Some of the most powerful cryptocurrency companies just launched an official group dedicated to lobbying Washington DC politicians...

With all the talks of regulations coming, and probably soon - this isn't a huge surprise. The companies that will be effected want to make sure politicians hear their viewpoints before they sign anything into law.

What we know so far is that the lobbying group will be called the "Blockchain Association" and the new organization is backed with funding from Polychain Capital, Coinbase, Circle, Digital Currency Group, and several others.

"The Blockchain Association is an effort to get the preeminent companies in the space together know they're hearing from companies that welcome regulation when it's appropriate ... We're not companies looking to game the system, but trying to develop a legal and regulatory system that'll stand the test of time"

As far as more specifics, I must warn our readers that these details are unconfirmed rumors at this point, from sources unwilling to go on the record yet. When attempting to confirm these rumors I've only received the response of "we cannot confirm or deny" and some have just ignored requests altogether.

But rumored to be heading the group is Kristin Smith, an experienced and connected lobbist and former congressional staffer. Until this week, Smith was with the major lobbist firm Thompson Coburn, but we have confirmed she has left the firm to move on to something else.

Supposedly, before the end of the week we will know the full details following an official announcement.